Old guard in charge

CBS.MarketWatch.com

NEW YORK (CBS.MW) -- Old-economy stocks, like financials and cyclicals, were on fire Monday, helping the Dow Industrials end the session with a heady gain. Banks stocks were the biggest upside movers within the broad market on increasing hopes that Fed rate cuts may come sooner rather than later.

Terayon tumbles

SANTA CLARA, Calif. (CBS.MW) -- Terayon Communications Systems screamed lower Monday after the supplier of broadband networking systems warned that it wouldn't meet fourth-quarter revenue and earnings estimates because of a rash of canceled orders, along with an "unexpected" slowdown in order growth.

IPO Report: Prudential moves

NEWARK, N.J. (CBS.MW) - Insurance giant Prudential on Monday formalized plans to file an initial public offering on the heels of similar moves by MetLife and John Hancock. Separately, Prudential said it's downsizing its investment bank, which has underwritten IPOs such as BarnesandNoble.com, Charter Communications, and Coach.

FOMC on deck for Tuesday meeting

WASHINGTON (CBS.MW) -- If you thought the election took forever to decide, just see how long it'll take the Federal Reserve to decide whether the economy has slowed too much. The Federal Open Market Committee meets on Tuesday to talk about the economy and discuss possible changes to its target interest rates.

Go ahead, cut 'em

WASHINGTON (CBS.MW) -- If you thought the election took forever to decide, just see how long it'll take the Federal Reserve to decide whether the economy has slowed too much. "They should cut rates" at Tuesday's meeting, said John Ryding, senior economist at Bear Stearns. "Why wait? Why wait until Jan. 31?" The Federal Open Market Committee meets on Tuesday to talk about the economy and discuss possible changes to its target interest rates.

Time-Warner sees soft sales

NEW YORK (CBS.MW) -- Media giant Time Warner warned that softness in cable network advertising revenue, weaker-than-expected music sales, and the "disappointing" performance of its "Little Nicky" movie will negatively impact its fourth-quarter financial outlook.

Aetna to cut 5,000 jobs

HARTFORD, Conn. (CBS.MW) - Aetna said Monday it would eliminate 5,000 jobs as part of a restructuring aimed at improving profitability in its health insurance business. Aetna also said it expects to take $370 million in fourth-quarter charges, some of which are related to the restructuring.

StockWatch: Year's end

LONDON (FTMW) -- I've often joked that financial journalists spend half their careers reporting what they don't know and the other half hiding what they do know. Investors are advised to view year-end forecasts, including this one, with a dose of reality. Financial markets of late have worn down the most resilient professionals, forced seasoned CEOs to retire early and convinced some investors that a 4 percent money-market return is better than sexy. It's money in the bank.

MarketMap: A history lesson for Microsoft

NEW YORK (CBS.MW) - Disappointment over Microsoft's first warning in over a decade sent its stock to its lowest level in over two years on Friday. With the stage set for further declines, technicians were forced to dig far into the past to find levels that may be considered support. Meanwhile, some encouraging signs of a fledgling rally in the Nasdaq Composite provided a glimmer of hope for Microsoft bulls.

Good plans for bad times

Picking a tax planner

NEW YORK (CBS.MW) -- The very rich may or may not be different from you and me, but they no longer get all the tax breaks. Now that tax-saving financial information is as common as sin, and about as cheap, almost anyone can reduce his or her taxes by using some fairly simple techniques that wealthy people have been employing -- and enjoying -- for years.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information. Intraday data
delayed per exchange requirements. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc.
All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More
information on NASDAQ traded symbols and their current financial status. Intraday
data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. S&P/Dow Jones Indices (SM)
from Dow Jones & Company, Inc. SEHK intraday data is provided by SIX Financial Information and is
at least 60-minutes delayed. All quotes are in local exchange time.